Freshworks Inc. (NASDAQ:FRSH) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Freshworks Inc. (NASDAQ:FRSH) have received an average recommendation of “Moderate Buy” from the eighteen brokerages that are covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $25.00.

A number of analysts have issued reports on the stock. Needham & Company LLC boosted their price objective on shares of Freshworks from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 price target on shares of Freshworks in a report on Wednesday, February 7th. JMP Securities upped their price target on shares of Freshworks from $25.00 to $29.00 and gave the stock a “market outperform” rating in a report on Wednesday, February 7th. Piper Sandler upped their price target on shares of Freshworks from $24.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Finally, Jefferies Financial Group raised shares of Freshworks from a “hold” rating to a “buy” rating and upped their price target for the stock from $20.00 to $30.00 in a report on Friday, January 5th.

Freshworks Price Performance

Freshworks stock opened at $18.21 on Friday. The firm has a market capitalization of $5.43 billion, a PE ratio of -38.74 and a beta of 0.93. The company’s 50-day moving average is $20.18 and its 200-day moving average is $20.25. Freshworks has a fifty-two week low of $12.22 and a fifty-two week high of $24.98.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings results on Tuesday, February 6th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. Freshworks had a negative net margin of 23.04% and a negative return on equity of 12.55%. The business had revenue of $160.11 million for the quarter, compared to analyst estimates of $158.11 million. As a group, analysts expect that Freshworks will post -0.37 EPS for the current year.

Insider Buying and Selling at Freshworks

In other Freshworks news, Director Barry L. Padgett sold 4,690 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $22.39, for a total value of $105,009.10. Following the completion of the transaction, the director now directly owns 17,387 shares in the company, valued at approximately $389,294.93. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Freshworks news, Director Barry L. Padgett sold 4,690 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $22.39, for a total value of $105,009.10. Following the completion of the transaction, the director now directly owns 17,387 shares in the company, valued at approximately $389,294.93. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Johanna Flower sold 4,800 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $23.15, for a total transaction of $111,120.00. Following the completion of the transaction, the director now owns 23,451 shares of the company’s stock, valued at $542,890.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 462,467 shares of company stock worth $9,483,143. 26.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Freshworks

Several large investors have recently modified their holdings of FRSH. Advisors Asset Management Inc. increased its position in shares of Freshworks by 373.8% during the third quarter. Advisors Asset Management Inc. now owns 1,663 shares of the company’s stock worth $33,000 after buying an additional 1,312 shares during the period. Quarry LP acquired a new stake in shares of Freshworks during the second quarter worth $35,000. UBS Group AG increased its position in shares of Freshworks by 117.5% during the third quarter. UBS Group AG now owns 3,574 shares of the company’s stock worth $46,000 after buying an additional 1,931 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Freshworks during the first quarter worth $59,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of Freshworks during the third quarter worth $81,000. 75.58% of the stock is currently owned by institutional investors and hedge funds.

Freshworks Company Profile

Freshworks Inc, a software development company, provides software-as-a-service products worldwide. It offers Freshworks Customer Service Suite, which provides automated, personalized self-service on various channels, including web, chat, mobile messaging, email, and social; Freshdesk, a ticketing-centric customer service solution; Freshsuccess, a customer success solution; and Freshchat that provides agents with a modern conversational experience to proactively engage customers across digital messaging channels.